Austria Gazettes Tax Amendment Act 2024

The Austrian Official Gazette July 19 published Law No. 113, on the Tax Amendment Act 2024, which amends various tax laws. The law includes measures: 1) explaining that specified grants, in establishing income-generating assets, may be deducted, when applied, as a special expense in the subsequent nine assessment periods, along with grants in the respective year; 2) establishing that pre-tax profits must be reported in qualified country-by-country (CbC) reports and that income tax expenses reported in a qualified financial reporting must be neutralized by specified expenses; 3) establishing requirements for entrepreneurs that operate companies in other EU member states; 4) ...